ZFX Review

Rana Adnan | May 10, 2022

Headquartered in the city of London, Zeal Capital Market (ZFX for short) is an online retail trading broker that aims to provide you with the right resources and conditions for trading over 120 financial markets: forex, commodities, indices, and stocks. ZFX is authorised and regulated by the top-tier regulatory authority FCA in the UK. Trades are executed with the MT4 trading platform, which is available in multiple versions for desktop, web and mobile devices. The broker operates the No Dealing Deak (NDD) execution, while their liquidity is sourced from a variety of large financial institutions.

Broker Pros / Cons
  • User-friendly MetaTrader 4 platform
  • Educational resources
  • Trading tools
  • Multilingual customer support
  • Several financial instruments
  • No MetaTrader 5 platform
  • No USA clients
  • Not the lowest spreads

Summary

ZFX is an ECN retail broker that provides you with the intuitive MetaTrader 4 platform for trading multiple financial instruments. You are provided with multilingual customer support as well as a selection of learning and trading tools. Other essential features of ZFX are ECN trading accounts, deep liquidity, low spreads, competitive commissions, and leverage of up to 1:100.

Regulation

Zeal Capital Market (UK) Limited is a wholly-owned subsidiary of Zeal Holdings Limited, which is authorised and regulated by the Financial Conduct Authority, FRN: 768451. It is a company registered in England and Wales with register number: 10219924.

Zeal Capital Market (Seychelles) Limited is a wholly-owned subsidiary of Zeal Holdings Limited, regulated as a Securities Dealer by the Financial Services Authority of Seychelles, licence number: SD027.

In my experience, a tier-1 regulation licence from FCA, segregated client’s funds and protection by the Financial Compensation Scheme (FSCS) for up to £85,000 can point towards a reliable trading broker.

ZFX safety

ZFX safety

The broker’s services are not directed at residents of any particular country outside the UK and are not intended for distribution to, or used by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

If you are from another country where the broker is not regulated, or they do not accept clients, you can use our powerful broker comparison tool to help you find an alternative in both cases.

Platforms

ZFX allows you to trade the various available financial assets using the MetaTrader 4 trading platform, an advanced trading platform developed in 2005 by the Russian software company, MetaQuotes. The platform is designed to suit your needs whether you are a beginner or an experienced trader. MT4 has an intuitive user interface and is packed with a range of advanced trading functionalities, such as one-click executions, stop and limit orders, technical indicators, live analytics, and support for the automation of trades using expert advisors (EAs).

The MT4 platform can be downloaded as a desktop application for Windows and Mac computers, and there is a mobile trading app for Android and iOS devices. There is also the web version that can run directly on most modern web browsers, including Chrome, Safari, Firefox, and Edge.

ZFX Trading Platform

ZFX Trading Platform

I would like ZFX more if they provided additional trading platforms such as MT5 or cTrader. Regardless, MT4 has been my preferred trading platform during my trading career. Its user-friendly interface and the ability to access MT4 through desktop platforms, web browsers, and mobile devices provide me with the freedom to trade from anywhere in the world as long as I have an internet connection. It’s one of the best trading platforms for beginners, in my opinion.

If you are only looking to trade popular forex pairs, commodities, stocks, and indices, then MT4 should be more than enough to meet your needs. In case you are keen to use cTrader, FXPIG is of the few brokers that have this platform.

Tools

There are trading calculators and an economic calendar on the broker’s website. I think ZFX needs to improve the trading tools by offering Autochartist or Trading Central like GO Markets does.

I like the fact that ZFX offers MAM accounts for copy trading, but there is no VPS service. Switch Markets provides free VPS hosting if this is something that you require. I think ZFX could significantly improve the trading tools available by offering Autochartist or Trading Central as Forex.com does.

Economic Calendar

The Economic Calendar is a useful trading tool that shows the schedule of market events along with their expected impacts in the financial markets.

ZFX Economic Calendar

ZFX Economic Calendar

Copy Trading (MAM)

Money Managers, Hedge Funds, and Family Offices can benefit from the Multi-Account Manager (MAM). You may use Zeal’s MAM account to sign a Limited Power of Attorney with your preferred manager, agree on a performance fee, and Zeal will function as custodian, ensuring the manager receives the agreed-upon percentage, all while you retain full control of your account. The MAM account at Zeal covers performance, management, and trade fees.

If you wish to copy the trade signals of other professional traders, eToro is the industry leaders when it comes to social trading.

Education

The following educational resources are available on the broker’s website: market news, corporate news, announcements, trading guides, and an FAQ section that answers some of the common questions that you may have.

In my opinion, ZFX lags in providing necessary educational and research resources. Admirals on the other hand provide a ton of educational tools to assist you in your journey if you are new to trading online.

Markets

ZFX offers over 120 trading instruments covering 4 asset classes forex, commodities, indices, and stocks. I noticed that the product portfolio is very limited for professionals as there are only popular stocks, indices, commodities and forex pairs. On top of that, other popular asset classes such as options, bonds, and cryptocurrencies aren’t available. IG is a forex broker that offers over 17,000 trading instruments, and you should definitely check them out if you are looking to diversify your portfolio over many markets.

Accounts

The broker provides you with three trading account options, namely: Mini Account, Standard STP Account, and ECN trading account. The minimum deposit required to begin trading is $50. No commission is charged on trades.

I think ZFX account types might not meet everyone’s needs as zero spread accounts, fixed spread accounts, and swap-free Islamic accounts are unavailable. If ZFX’s account types do not meet your needs, PU Prime is worth considering as they have multiple account types. If you are of the Muslim faith and want to trade without interest, ADSS is a reliable and regulated broker that offers Islamic accounts.

Support

Clients are provided with a multilingual customer support team who are available 24/5 and can be reached via telephone, email, social media, online support form, or by visiting their physical offices.

I think 24/5 customer support by ZFX makes sense, as cryptocurrencies are not offered. The rest market offerings are traded only on weekdays.

Funding

Account deposit and withdrawal requests are processed using bank wire transfers, credit/debit cards, and online payment processors, such as Neteller and Skrill.

I noticed crypto funding is not available at ZFX, which can be a disappointment for you if you use crypto funding frequently. Consider Hankotrade if you are looking for a broker that offers crypto funding.

Signup

Account opening is easy and straightforward: just click on the Open Live Account tab at the top-right corner of the broker’s website. Fill the registration form, providing your personal information and other required details.

ZFX Account Opening Page

ZFX Account Opening Page

FAQ

What is the ZFX minimum deposit?

The minimum deposit required by ZFX is $50.

How do I deposit money into ZFX?

You can fund your ZFX account using several payment methods, such as wire transfer, credit/debit cards, Skrill, and Neteller.

What are ZFX deposit fees?

ZFX does not charge any deposit fees. However, traders should keep in mind that their bank or payment system may charge fees for transactions.

How do I withdraw money from ZFX?

ZFX offers various payment methods, including wire transfer, credit/debit cards, Skrill, and Neteller.

What are the ZFX withdrawal fees?

ZFX does not charge any withdrawal fees, but some payment providers may charge currency conversion fees if your account is denominated in a foreign currency.

What is the ZFX commission fee?

ZFX has low commission fees, starting from $0.

Are there any ZFX inactivity fees?

ZFX does not charge any inactivity fees. This means that the broker would not deduct any fees from your account balance when you leave your trading account dormant for a prolonged period.

What are the ZFX account types?

The broker provides traders with three trading account options: Mini Account, Standard STP Account, and ECN trading account.

Is there a ZFX demo account?

Yes, ZFX offers a demo account where you can access real market data with simulated money. In addition, the demo account always comes preloaded with virtual funds to help traders get acquainted with the broker’s website without risking any of their funds.

What are the ZFX spreads?

ZFX offers low spreads, starting from 0.2 pips.

What is the ZFX leverage?

ZFX has low leverage of up to 1:100.

Do ZFX allow hedging, scalping, news trading & automated trading?

Yes, ZFX do not impose any specific restrictions on trading styles. Therefore, all trading strategies and styles are welcome, including automated trading, hedging, and news trading.

Is there a ZFX Islamic account?

No, ZFX does not offer Islamic accounts.

What are ZFX trading instruments?

ZFX offer the following trading instruments: forex, commodities, indices, stocks, and CFDs.

How do I open a ZFX live account?

You can open a ZFX live account by clicking on the “Open Live Account” tab at the top-right corner of the broker’s website. Fill out the registration form, providing your personal information and other required details.

How do I verify my ZFX account?

You can verify your ZFX account by providing proof of identification and up-to-date address evidence no more than six months old.

What is the ZFX trading platform?

ZFX allows traders to trade the various available financial assets using the MetaTrader 4 trading platform, an advanced trading platform that was developed in 2005 by the Russian software company, MetaQuotes. The MT4 trading platform is available in desktop, web, and mobile versions.

Where can I download the ZFX platform?

You can download the ZFX trading platforms directly from the broker’s website or the relevant iOS and Android app stores.

Where is ZFX located?

ZFX has offices in the United Kingdom and Seychelles.

What countries does ZFX not accept?

ZFX services are not available in countries where the offer of such products is prohibited or restricted by laws.

Is ZFX regulated?

Yes, The UK arm of ZFX is regulated by the Financial Conduct Authority (FCA), while the Seychelles subsidiary is licensed by the Financial Services Authority (FSA).

Is ZFX a scam?

No, ZFX is not a scam. The broker is regulated by the Financial Conduct Authority (FCA) and the Financial Services Authority of Seychelles (FSA).

How can I contact ZFX support?

ZFX provides clients with a knowledgeable client support team who are available 24/5 and can be reached through any of the following contact channels: telephone, email, social media, or online support form. You can also visit the broker’s physical offices in the United Kingdom and Seychelles.

Compare

Compare Broker (vs Our Top 3 Brokers)
Broker FeaturesAvaTradeIGIC Markets
Founded200619742007
RegulatedASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSAFCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFFASIC, CySEC, FSA, SCB
CountryAustralia, Ireland, South Africa, Japan, British Virgin IslandsAustralia, UK, USA, Switzerland, UAE, Singapore, JapanAustralia, Seychelles, Bahamas, Cyprus
Min. DepositMin $250 DepositMin $100 DepositMin $200 Deposit
CommissionFrom $0From $0From $0
SpreadsFixedVariableVariable
Leverage1:4001:2001:500
InstrumentsForex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFsForex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDsForex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs
PlatformsMetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, MobileMetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, MobileMetaTrader 4, MetaTrader 5, cTrader, Web, Mobile
TypeMarket Maker, STPSTP, ECN, DMAECN
FundingWire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, SkrillWire Transfer, Credit/Debit Cards, PayPalWire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli
Visit BrokerVisit BrokerVisit BrokerVisit BrokerVisit BrokerVisit BrokerVisit BrokerVisit Broker

Conclusion

Putting it all together, ZFX is an online financial services provider with offices in the United Kingdom and Seychelles. The broker allows you to buy and sell various financial assets using the MT4 trading platform. They provide you with some useful trading tools and educational resources, whilst there is a multilingual customer support team available to assist them. ZFX is regulated in the UK and Seychelles by the FCA and FSA, respectively.

To conclude this review, I think ZFX can be a feasible option for beginners trade who want to trade with the modest MT4 trading platform and have experience in trading a few assets. However, if you are completely new to trading and looking for education to help you learn, you may consider Fortrade as an alternative option.

ZFX Logo

Min $50 Deposit

Zeal Capital Market (ZFX) is an online retail trading broker that provides traders with platforms for trading several financial markets, including Forex, Commodities, Indices & Cryptocurrencies.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

About the Author

Rana Adnan
I am an introverted long-distance runner and a Forex trader with more than 7 years of experience. Reminiscences of a stock operator was the first book that changed the whole concept of trading for me.

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